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Created for cryptocurrency exchange without transaction limits
CoinSwitch is a breakthrough multi-exchange integrated cryptocurrency platform
Read 100% Free CoinSwitch Review by Scamorno Team
FULL REVIEW OF CoinSwitch
Are you looking for more information about Coinswitch and whether or not this is truly a safe platform to exchange cryptocurrencies with? CoinSwitch is an aggregator of cryptocurrency exchange information, collecting data like rates from the leading exchanges found around the world. The platform advertises giving users the ability to convert their cryptocurrencies across multiple exchanges with the best rates, similar to how Changelly and Shapeshift function. It has a user-friendly interface that is intuitive to utilize and a wide offering of cryptocurrency pairs.
The exchange points out that it has the widest offering of cryptocurrencies, with over 250 different coins to choose from. In addition, there is support for over 6,000 pairs of cryptocurrencies. CoinSwitch also prides itself on the ease of transactions, unified platform with access to information from various exchanges, and reliable support.
What Are The Benefits Of Using CoinSwitch?
As an exchange aggregator, CoinSwitch saves members a great deal of time by automatically comparing the rates for their chosen cryptocurrency pair across the most commonly used exchanges. In this way, users do not need to check on various exchanges to confirm that they get the best rate. As a bonus, the ability to easily compare exchange rates across multiple exchanges increases the chances that users will get a better rate and come out on top of their exchange, maximizing the value of their crypto assets over time.
We cannot succinctly list all the cryptocurrency coins or pairs supported by CoinSwitch due to their sheer volume. As mentioned, there are over 250 cryptocurrencies and over 6,000 possible pairs.
It keeps a running list of cryptocurrencies that it supports on the website, so you can easily and quickly check within seconds whether your chosen cryptocurrencies have support. The currencies are spread out over 5 pages and are mostly in alphabetical order. However, a convenient search function makes it easy to find the currency you need to trade.
CoinSwitch does not support any fiat currencies, which is a trade-off when it comes to benefits and disadvantages. This means that you must own cryptocurrency to use the CoinSwitch platform and cannot make a deposit with a credit card or bank transfer. Because CoinSwitch does not support fiat currencies, it is subject to lesser or no regulations, depending on the country you live in. This allows for more anonymity but also means that the platform is held to fewer standards, leaving users to check reviews to confirm CoinSwitch’s reputation.
How Long Do CoinSwitch Transactions Take?
In most cases, a CoinSwitch transaction will take around 15 and 30 minutes for processing. Larger transactions can take longer to process based on the blockchain’s capacity and your transaction size. These “large” transactions typically start at about one BTC. It is also possible that a transaction will take a longer time due to an overloaded blockchain, something that can affect any blockchain. Since CoinSwitch does not directly control these timings, your only option in this situation is to wait. Users of CoinSwitch regularly confirm the quick speed of transactions, so you should usually experience a prompt exchange.
CoinSwitch charges fees depending on the exchange that you have chosen to do your exchange on. This does not include whichever the exchange you select charges for the transaction, so you should be aware of those fees. Choosing to use Changelly, Changer, Blocktrades, EverCoin, or ShapeShift will not involve a fee from CoinSwitch. Opting for Bittrex or Cryptopia involves a 0.5 percent fee, and using the CoinSwitch platform leads to a 0.6 percent fee. These fees are very minimal for the service CoinSwitch provides in comparing all the data for users to ensure they get the best rate. If you choose the correct exchange, you will still be able to save money by using CoinSwitch to compare, even accounting for the fee.
CoinSwitch itself does not have any restrictions on the amounts that you exchange per transaction, neither a minimum nor a maximum, but there are caveats. Some of the exchanges you will use using CoinSwitch have a maximum limit in place though, but the Coinswitch platform will let you know before you do your transactions.
Review Verdict: CoinSwitch is a legitimate service that works
Consumer Fraud Alert Regarding CoinSwitch
The success of CoinSwitch has given rise to many frauds who try to sell their own fake services in its name. This is a big issue as many customers have lost their money in joining from such fake sites. It is advised that customers should be really careful when they are joining and should do some research before they join from any website. To spot these, watch out and avoid sites that claim to write about CoinSwitch, yet the write-up is completely garbage and unreadable as they are created by software and spammed all over the internet. It is always better to avoid joining from any other site other than the official one. Therefore, it is highly advised that consumers do careful research, or only join from the site from the official website here – http://CoinSwitchOfficial.com/ (link opens in a new window). The official website that they have includes the legitimate service.
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